Remote Audits are paperless , electronic audits that are conducted without face-to-face interaction between auditor and auditee. All data is exchanged in electronic format such as MS Word, MS Excel, PDF, XML, Text Files, EDI files etc.
Governance of IT
COBIT Background
COBIT and Other frameworks
COBIT Principles
COBIT Goals
COBIT Objectives
COBIT Components
COBIT Design factors
COBIT Focus areas
COBIT Performance management
Designing and implementing a governance system
Creating Agile Organizations by Combining Design, Architecture and Agile Thin...Craig Martin
This is a talk I gave to the IASA follow-the-sun community. It deals with the combination of the design thinking, architecture thinking and agile thinking disciplines into a combined discipline needed to create the a responsive organisation.
Digital Transformation From Strategy To ImplementationScopernia
Creating a digital transformation strategy is one thing but how do you put the insights and plans into practice. This presentation deals with vision, strategy, roadmap, governance, leadership, channel hacking, start-up-thinking and many more issues.
This complete presentation has a set of thirty two slides to show your mastery of the subject. Use this ready-made PowerPoint presentation to present before your internal teams or the audience. All presentation designs in this Risk Analysis PowerPoint Presentation Slides have been crafted by our team of expert PowerPoint designers using the best of PPT templates, images, data-driven graphs and vector icons. The content has been well-researched by our team of business researchers. The biggest advantage of downloading this deck is that it is fully editable in PowerPoint. You can change the colors, font and text without any hassle to suit your business needs.
Presenting this set of slides with name - Risk Management Module PowerPoint Presentation Slides. The stages in this process are Risk Management Module, Risk Management Framework, Risk Management Structure.
Governance of IT
COBIT Background
COBIT and Other frameworks
COBIT Principles
COBIT Goals
COBIT Objectives
COBIT Components
COBIT Design factors
COBIT Focus areas
COBIT Performance management
Designing and implementing a governance system
Creating Agile Organizations by Combining Design, Architecture and Agile Thin...Craig Martin
This is a talk I gave to the IASA follow-the-sun community. It deals with the combination of the design thinking, architecture thinking and agile thinking disciplines into a combined discipline needed to create the a responsive organisation.
Digital Transformation From Strategy To ImplementationScopernia
Creating a digital transformation strategy is one thing but how do you put the insights and plans into practice. This presentation deals with vision, strategy, roadmap, governance, leadership, channel hacking, start-up-thinking and many more issues.
This complete presentation has a set of thirty two slides to show your mastery of the subject. Use this ready-made PowerPoint presentation to present before your internal teams or the audience. All presentation designs in this Risk Analysis PowerPoint Presentation Slides have been crafted by our team of expert PowerPoint designers using the best of PPT templates, images, data-driven graphs and vector icons. The content has been well-researched by our team of business researchers. The biggest advantage of downloading this deck is that it is fully editable in PowerPoint. You can change the colors, font and text without any hassle to suit your business needs.
Presenting this set of slides with name - Risk Management Module PowerPoint Presentation Slides. The stages in this process are Risk Management Module, Risk Management Framework, Risk Management Structure.
What is Digital transformation?
Far too often digital transformation is confused with Digitalization or with Digitization with a key focus on technologies or platform. But Digital transformation is not about technologies: it's about transforming the whole prganisation through a system thinking approach and it's about rethinking operational models, business models, processes, and policies, taking people, both employees and customers at the core of the process.
Because the goal of any digital transformation is to increase value creation for the business through digitally enhanced processes that increase internal efficiency and overall customer and employee satisfaction.
Digital transformation is en emergent need in today's post-industrial society: we moved fast from an industrial to a post-industrial era, however operational models and management practices haven't evolved fast enough.
For this reason, many organisations prefer to think of Digital transformation as the adoption of digital technologies on the top of mainly inefficient and obsolete operational models, rather than facing a true in depth transformation that begins with understanding the current culture, the customers, and the overall business.
These slides, were presented to students from IIM (india) at ESPC London on July 27th 2017 with the goal to provide tomorrow's digital leaders a broad vision of what is digital transformation by looking at what and the reasons why change is happening in the business world, define Digital transformation and its dimensions through the lenses of an Experience economy and a post-industrial era. The presentation also presents the Competing Value Framework as a key tool to start understanding organsation's culture and define a digital transformation roadmap and strategy.
Author mentioned (and inspirers):
- Daniel Bell (the post-industrial society)
- Joe Pine (Experience Economy
- The ClueTrain Manifesto
- Quinn and Cameron's Competing design framework
- Brian Solis
- Nichola Negroponte
Implementation of Enterprise Risk Management with ISO 31000 Risk Management S...PECB
The webinar covers:
• The start of any Enterprise Risk Management Program
• The approach to developing a framework that will assist organizations to integrate RM into their enterprise-wide risk management systems
• The relationship between the foundations of the risk management framework and their objectives
Presenter:
This webinar was presented by M. Youssef K, an executive consultant & trainer with several qualifications. He is an accomplished expert with over 10 years’ experience in the field of risk management, project and program management, PRINCE 2, Agile, EVM, business process analysis and design, as well as operational and organizational excellence.
Link of the recorded session published on YouTube: https://youtu.be/9fO-JqENL0I
Digital Transformation Strategy & Framework | By ex-McKinseyAurelien Domont, MBA
Go to www.slidebooks.com to Download and Reuse Now a Digital Transformation Strategy & Framework in Powerpoint | Created By ex-McKinsey & Deloitte Strategy Consultants.
Project Management vs Innovation: Friends or Foes?Tathagat Varma
My talk at IBM's ShareNet session on Project Management vs. Innovation. I explored how classical project management is ill-suited for managing innovative projects, especially Kaikaku or the Disruptive Innovation, and discussed how Lean Startup offers one such approach.
Feedback welcome...
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a collection of PowerPoint diagrams and templates used to convey 20 different digital transformation frameworks and models.
INCLUDED FRAMEWORKS/MODELS:
1. Ten Guiding Principles of Digital Transformation
2. The BCG Strategy Palette
3. Digital Value Chain Model
4. Four Levels of Digital Maturity
5. Customer Experience Matrix
6. Design Thinking Framework
7. Business Model Canvas
8. Customer Journey Map
9. OECD Digital Government Transformation Framework
10. Accenture's Nonstop Customer Experience Model
11. MIT's Digital Transformation Framework
12. McKinsey's Digital Transformation Framework
13. Capgemini's Digital Transformation Framework
14. DXC Technology's Digital Transformation Framework
15. Gartner's Digital Transformation Framework
16. Cognizant's Digital Transformation Framework
17. PwC's Digital Transformation Framework
18. Ionolgy's Digital Transformation Framework
19. Accenture's Digital Business Strategy Framework
20. Deloitte's Digital Industrial Transformation Framework
This Research Spotlight provides a summary of the academic literature on environmental, social, and governance (ESG) activities including:
• The relation between ESG activities and firm value
• The impact of environmental and social engagements on firm performance
• The market reaction to ESG events
• The relation between ESG and agency problems
• The performance of socially responsible investment (SRI) funds
This Research Spotlight expands upon issues introduced in the Quick Guide “Investors and Activism”.
What is GRC – Governance, Risk and Compliance BOC Group
A simple guide to learn what Governance, Risk and Compliance (GRC) is all about, why it’s important and how you can use it to help drive enterprise objectives.
For more information visit: https://www.boc-group.com/governance-risk-and-compliance/
This presentation helps you gain a good understanding of the fundamentals of ESG by explaining the following.
1. What is ESG - Definition and ESG Issues
2. What is ESG VS Responsible Investment (RI) - Definition of RI | Relationship between ESG and RI | Investment profile of RI vs Sustainable Investing vs Impact Investing
3. Why is ESG Important - Two Main Reasons
4. Who should Care about ESG - Key Stakeholders
5. Why They should Care - Reasons for each Stakeholder to Understand and Consider ESG Integration
6. How to Integrate ESG into Investment Process - Overview of Traditional vs ESG-Integrated Investment Process
Governance, Risk, and Compliance ServicesCapgemini
Capgemini’s integrated and centralized approach to Governance, Risk, and Compliance (GRC) breaks through traditional functional silos to deliver effective enterprise risk management and compliance as a continuous process. We help organizations manage a range of enterprise risks in the areas of IT, finance and accounting, operations, and regulatory compliance with flexible solutions comprised of a highly qualified CPA and CISA talent pool, innovative tools, and our unique collection of GPM best practice processes and controls.
The Global Reporting Initiative (GRI) is a non-profit organization that promotes economic sustainability. It produces one of the world's most prevalent standards for sustainability reporting.
The need for Business design to underpin strategic and operational agility Craig Martin
Talk given at the business architecture Master Series in Sydney October 2019.
Agility is here to stay. But dig a little deeper and you will see that fundamental strategic, structural and cultural issues exist that often prevent success within large organizations. Some organizations have learnt the hard way when it comes to the missing pieces of the puzzle around organizational agility.
I was recently asked by a new-ways-of-working team to help them apply business design to create the target operating model needed to enable structural, operational and strategic agility. Is this the secret sauce that’s been missing in the agility conversations?
In this talk I’ll discuss the broader issues around agility when creating the adaptive and fast learning organization. And discuss the "secret sauce" that is missing when it comes to business heuristics and patterns.
I will also look at the areas where agility is succeeding and failing and discuss the need for multi-disciplinary architects that can help with the transition across strategic, business and delivery lenses.
PS - this is a presentation pack. I dont put everything I talk to into a slide. Some of these slides will therefore lack some context for you. Next time I'll record the talk and you can hopefully catch the story around the slides.
Almost every business decision requires executives and managers to balance risk and reward, and efficiency in that process is essential to an enterprise’s success. Too often though, IT risk (business risk related to the use of IT) is overlooked.
While other business risks such as market, credit and operational risks have long been incorporated into the decision-making processes, IT risk has usually been relegated to technical specialists outside the boardroom, despite falling under the same risk category as other business risks: failure to achieve strategic objectives.
This session intends to address business risks related to the use of IT, looking at industry standards, frameworks and best practices, as well as focusing on real world examples and specific plans on how to implement IT Risk Management on every level of your company.
Target Operating Model Strategy Management Governance Organization Leadership...SlideTeam
This complete deck covers various topics and highlights important concepts. It has PPT slides which cater to your business needs. This complete deck presentation emphasizes Target Operating Model Strategy Management Governance Organization Leadership Instruments Processes and has templates with professional background images and relevant content. This deck consists of total of twelve slides. Our designers have created customizable templates, keeping your convenience in mind. You can edit the colour, text and font size with ease. Not just this, you can also add or delete the content if needed. Get access to this fully editable complete presentation by clicking the download button below. https://bit.ly/3h3vNxn
Digital Business Transformation | Strategy + Executionfeature[23]
Speed of innovation and certainty of your digital technology strategy is your new IP.
Market leading brands know they are competing in the 3rd Industrial Revolution – The Software Economy – and they will live or die by their digital adoption. Companies mature in digital business transformation are outperforming, making more money, and are more profitable than their peers.
These Digital Leaders are proactively transforming their business models and leading their segments through the frenetic pace of social, mobile, analytics, cloud, and the Internet of Everything. Unfortunately, digital is still shrouded in confusion, viewed as a cost center, and punished with inadequate funding.
How do you transform modern businesses at scale by creating technology-based capabilities, products, services, and business outcomes that delivers your authentic brand promise?
Investors in Risk Management provides expert-driven risk maturity assessment services to assess and improve the risk management maturity using our Risk Management Maturity Model (RMMM) to mitigate the impact of uncertainty on business objectives.
The Three Critical Steps for Effective BYOD Management Kaseya
Some of the biggest challenges facing IT organizations today are managing BYOD and establishing effective BYOD policy.
As BYOD becomes a reality for more organizations, IT professionals find themselves in an ongoing tug of war between managing corporate risk and ensuring employee privacy and satisfaction.
How do you strike a balance between protecting corporate data on an employee's personal device without instituting invasive levels of control and oversight over their personal data and activities?
View this webinar on the three critical steps for BYOD management to learn how. You'll discover how to:
· Keep corporate data secure in a BYOD environment
· Effectively manage and protect corporate data without the need to manage the entire device
· Establish a BYOD policy that increases employee productivity and satisfaction
What is Digital transformation?
Far too often digital transformation is confused with Digitalization or with Digitization with a key focus on technologies or platform. But Digital transformation is not about technologies: it's about transforming the whole prganisation through a system thinking approach and it's about rethinking operational models, business models, processes, and policies, taking people, both employees and customers at the core of the process.
Because the goal of any digital transformation is to increase value creation for the business through digitally enhanced processes that increase internal efficiency and overall customer and employee satisfaction.
Digital transformation is en emergent need in today's post-industrial society: we moved fast from an industrial to a post-industrial era, however operational models and management practices haven't evolved fast enough.
For this reason, many organisations prefer to think of Digital transformation as the adoption of digital technologies on the top of mainly inefficient and obsolete operational models, rather than facing a true in depth transformation that begins with understanding the current culture, the customers, and the overall business.
These slides, were presented to students from IIM (india) at ESPC London on July 27th 2017 with the goal to provide tomorrow's digital leaders a broad vision of what is digital transformation by looking at what and the reasons why change is happening in the business world, define Digital transformation and its dimensions through the lenses of an Experience economy and a post-industrial era. The presentation also presents the Competing Value Framework as a key tool to start understanding organsation's culture and define a digital transformation roadmap and strategy.
Author mentioned (and inspirers):
- Daniel Bell (the post-industrial society)
- Joe Pine (Experience Economy
- The ClueTrain Manifesto
- Quinn and Cameron's Competing design framework
- Brian Solis
- Nichola Negroponte
Implementation of Enterprise Risk Management with ISO 31000 Risk Management S...PECB
The webinar covers:
• The start of any Enterprise Risk Management Program
• The approach to developing a framework that will assist organizations to integrate RM into their enterprise-wide risk management systems
• The relationship between the foundations of the risk management framework and their objectives
Presenter:
This webinar was presented by M. Youssef K, an executive consultant & trainer with several qualifications. He is an accomplished expert with over 10 years’ experience in the field of risk management, project and program management, PRINCE 2, Agile, EVM, business process analysis and design, as well as operational and organizational excellence.
Link of the recorded session published on YouTube: https://youtu.be/9fO-JqENL0I
Digital Transformation Strategy & Framework | By ex-McKinseyAurelien Domont, MBA
Go to www.slidebooks.com to Download and Reuse Now a Digital Transformation Strategy & Framework in Powerpoint | Created By ex-McKinsey & Deloitte Strategy Consultants.
Project Management vs Innovation: Friends or Foes?Tathagat Varma
My talk at IBM's ShareNet session on Project Management vs. Innovation. I explored how classical project management is ill-suited for managing innovative projects, especially Kaikaku or the Disruptive Innovation, and discussed how Lean Startup offers one such approach.
Feedback welcome...
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a collection of PowerPoint diagrams and templates used to convey 20 different digital transformation frameworks and models.
INCLUDED FRAMEWORKS/MODELS:
1. Ten Guiding Principles of Digital Transformation
2. The BCG Strategy Palette
3. Digital Value Chain Model
4. Four Levels of Digital Maturity
5. Customer Experience Matrix
6. Design Thinking Framework
7. Business Model Canvas
8. Customer Journey Map
9. OECD Digital Government Transformation Framework
10. Accenture's Nonstop Customer Experience Model
11. MIT's Digital Transformation Framework
12. McKinsey's Digital Transformation Framework
13. Capgemini's Digital Transformation Framework
14. DXC Technology's Digital Transformation Framework
15. Gartner's Digital Transformation Framework
16. Cognizant's Digital Transformation Framework
17. PwC's Digital Transformation Framework
18. Ionolgy's Digital Transformation Framework
19. Accenture's Digital Business Strategy Framework
20. Deloitte's Digital Industrial Transformation Framework
This Research Spotlight provides a summary of the academic literature on environmental, social, and governance (ESG) activities including:
• The relation between ESG activities and firm value
• The impact of environmental and social engagements on firm performance
• The market reaction to ESG events
• The relation between ESG and agency problems
• The performance of socially responsible investment (SRI) funds
This Research Spotlight expands upon issues introduced in the Quick Guide “Investors and Activism”.
What is GRC – Governance, Risk and Compliance BOC Group
A simple guide to learn what Governance, Risk and Compliance (GRC) is all about, why it’s important and how you can use it to help drive enterprise objectives.
For more information visit: https://www.boc-group.com/governance-risk-and-compliance/
This presentation helps you gain a good understanding of the fundamentals of ESG by explaining the following.
1. What is ESG - Definition and ESG Issues
2. What is ESG VS Responsible Investment (RI) - Definition of RI | Relationship between ESG and RI | Investment profile of RI vs Sustainable Investing vs Impact Investing
3. Why is ESG Important - Two Main Reasons
4. Who should Care about ESG - Key Stakeholders
5. Why They should Care - Reasons for each Stakeholder to Understand and Consider ESG Integration
6. How to Integrate ESG into Investment Process - Overview of Traditional vs ESG-Integrated Investment Process
Governance, Risk, and Compliance ServicesCapgemini
Capgemini’s integrated and centralized approach to Governance, Risk, and Compliance (GRC) breaks through traditional functional silos to deliver effective enterprise risk management and compliance as a continuous process. We help organizations manage a range of enterprise risks in the areas of IT, finance and accounting, operations, and regulatory compliance with flexible solutions comprised of a highly qualified CPA and CISA talent pool, innovative tools, and our unique collection of GPM best practice processes and controls.
The Global Reporting Initiative (GRI) is a non-profit organization that promotes economic sustainability. It produces one of the world's most prevalent standards for sustainability reporting.
The need for Business design to underpin strategic and operational agility Craig Martin
Talk given at the business architecture Master Series in Sydney October 2019.
Agility is here to stay. But dig a little deeper and you will see that fundamental strategic, structural and cultural issues exist that often prevent success within large organizations. Some organizations have learnt the hard way when it comes to the missing pieces of the puzzle around organizational agility.
I was recently asked by a new-ways-of-working team to help them apply business design to create the target operating model needed to enable structural, operational and strategic agility. Is this the secret sauce that’s been missing in the agility conversations?
In this talk I’ll discuss the broader issues around agility when creating the adaptive and fast learning organization. And discuss the "secret sauce" that is missing when it comes to business heuristics and patterns.
I will also look at the areas where agility is succeeding and failing and discuss the need for multi-disciplinary architects that can help with the transition across strategic, business and delivery lenses.
PS - this is a presentation pack. I dont put everything I talk to into a slide. Some of these slides will therefore lack some context for you. Next time I'll record the talk and you can hopefully catch the story around the slides.
Almost every business decision requires executives and managers to balance risk and reward, and efficiency in that process is essential to an enterprise’s success. Too often though, IT risk (business risk related to the use of IT) is overlooked.
While other business risks such as market, credit and operational risks have long been incorporated into the decision-making processes, IT risk has usually been relegated to technical specialists outside the boardroom, despite falling under the same risk category as other business risks: failure to achieve strategic objectives.
This session intends to address business risks related to the use of IT, looking at industry standards, frameworks and best practices, as well as focusing on real world examples and specific plans on how to implement IT Risk Management on every level of your company.
Target Operating Model Strategy Management Governance Organization Leadership...SlideTeam
This complete deck covers various topics and highlights important concepts. It has PPT slides which cater to your business needs. This complete deck presentation emphasizes Target Operating Model Strategy Management Governance Organization Leadership Instruments Processes and has templates with professional background images and relevant content. This deck consists of total of twelve slides. Our designers have created customizable templates, keeping your convenience in mind. You can edit the colour, text and font size with ease. Not just this, you can also add or delete the content if needed. Get access to this fully editable complete presentation by clicking the download button below. https://bit.ly/3h3vNxn
Digital Business Transformation | Strategy + Executionfeature[23]
Speed of innovation and certainty of your digital technology strategy is your new IP.
Market leading brands know they are competing in the 3rd Industrial Revolution – The Software Economy – and they will live or die by their digital adoption. Companies mature in digital business transformation are outperforming, making more money, and are more profitable than their peers.
These Digital Leaders are proactively transforming their business models and leading their segments through the frenetic pace of social, mobile, analytics, cloud, and the Internet of Everything. Unfortunately, digital is still shrouded in confusion, viewed as a cost center, and punished with inadequate funding.
How do you transform modern businesses at scale by creating technology-based capabilities, products, services, and business outcomes that delivers your authentic brand promise?
Investors in Risk Management provides expert-driven risk maturity assessment services to assess and improve the risk management maturity using our Risk Management Maturity Model (RMMM) to mitigate the impact of uncertainty on business objectives.
The Three Critical Steps for Effective BYOD Management Kaseya
Some of the biggest challenges facing IT organizations today are managing BYOD and establishing effective BYOD policy.
As BYOD becomes a reality for more organizations, IT professionals find themselves in an ongoing tug of war between managing corporate risk and ensuring employee privacy and satisfaction.
How do you strike a balance between protecting corporate data on an employee's personal device without instituting invasive levels of control and oversight over their personal data and activities?
View this webinar on the three critical steps for BYOD management to learn how. You'll discover how to:
· Keep corporate data secure in a BYOD environment
· Effectively manage and protect corporate data without the need to manage the entire device
· Establish a BYOD policy that increases employee productivity and satisfaction
Download our 2020 Sarbanes-Oxley Compliance survey to learn more about the state of SOX today, including how organizations are finding new approaches as they deal with the impact of COVID-19. http://ow.ly/wE1k50zSzj0
A remote audit has already proven beneficial for both auditors and clients. It is probable that this is here to stay and auditees have to redesign themselves to adapt to the new normal.
Streaming Processes: Creating a Start-up Within a Big Corporate (Mohammad Sha...Executive Leaders Network
Presented at Executive Leaders Network CMO/DPO/CIO/CISO Event on October 06th.
"How Haleon have established a software-defined lifecycle that decreases the effort required for build and integration. Making new features, bug fixes, experiments, configuration changes always ready for deployment to a production environment."
The session focuses how A Unified solution can assist enterprises to have Data Leakage Protection, Employee Productivity Monitoring and Employee Behavior Monitoring.
The session is handled by The session will be handled by Mr. Dhruv Khanna, Co-Founder of Data Resolve Technologies Private Limited
Dhruv has 20 years of experience in leadership position across Sales, IT Consulting, Cyber Security domain with 360 degree hands-on experience across Team Mentoring, Business Development, International Sales, Digital Channels, Client Acquisition, P&L Management, Project Delivery, Product Management, Solution design, Tech Marketing, Business Finance, Investor Relations & Fund Raise.
While many legal professionals have seen powerful benefits of the transition to a hybrid/remote practice, there’s always room to improve. And for those who are still operating only out of a physical office space, it can be a daunting leap to make.
Join industry experts to discover how to run a successful virtual law firm. In this webinar, you’ll learn about the:
- Benefits of building a virtual law firm
- Ethical and regulatory requirements to follow
- Technologies to help you work efficiently and elevate the client experience (along with resources to guide you)
Implementing and Auditing General Data Protection RegulationJim Kaplan CIA CFE
Protecting personal data has been an important issue for many years. The EU GDPR extends the data rights of individuals, and requires organizations to develop clear policies and procedures to protect personal data, and adopt appropriate technical and organizational measures. UK organizations have had to comply with the Regulation since 25 May 2018, or potentially face fines of up to 4% of annual turnover or €20 million – whichever is greater.
Learning Outcomes:
This 10 webinar series is intended to elicit a clear understanding of the core elements of the GDPR, with the ability to gain a deeper understanding by asking the trainer questions during the training.
It covers how each aspect of the Regulation can be translated into implementation actions in your organization and the auditor’s role.
Webinar 7
• Lessons to be learned from common data security failures.
• The six data protection principles – how to apply them and demonstrate compliance.
How to use ai apps to unleash the power of your audit program Jim Kaplan CIA CFE
Artificial Intelligence (AI) is found in just about every industry today, and accounting and auditing are no exception. Auditors that aren’t already exploring the vast potential of AI-powered applications in their audit program will soon find these tools are the industry standard and will be left in the dust if they don’t adapt and adopt.
To learn how to easily use AI apps in audit today, join us as we welcome Deniz Appelbaum, Assistant Professor at Montclair State University, for this exclusive presentation. With deep experience in audit analytics, Big Data, blockchain, audit automation, and fraud detection, Appelbaum brings considerable practical experience with audit technology to the audit profession.
In this presentation, she will help guests:
● Gain a basic introductory understanding of AI in audit.
● Understand how AP applications can be used in the context of auditing.
● Learn how to use AI apps in an audit for specific, achievable, measurable results.
Internal auditors regularly access organization information for audit purposes. Many organizations now maintain computerized data warehouses containing useful management and financial information. Audit professionals therefore need to understand both the concepts of data warehousing as well as data mining techniques.
Data warehousing is a process for assembling and managing data from various sources for the purpose of gaining a single, detailed view of part or all of a business.
Data mining is the use of automated tools to explore and analyze large amounts of data stored in those data warehouses.
Print reports represent a valuable source of unstructured data which can be useful for internal auditors. Using print reports for data mining will be the main area covered in this Webinar.
Objectives
1. Identify the difference between data analysis and data mining Understand the importance between structured and unstructured data
2. Learn tips and best practices for data mining print reports
3. Understand how excel and IDEA handle importing different PDF formats
4. How to use templates to make future imports a one button task
Being a digital communication superstarRon McFarland
Technology is coming so fast at us that large and small businesses can no longer ignore it. I was reseaching this some time back and came up with three major reasons for having a proactive digital investment plan. Namely (1) to improve customer interaction and experience, (2) to improve company internal processes and (3) to penetrate or completely create new markets. Also, I grouped this digital technology into four main groupings: 1-Data & analytics utilization, 2-Social media utilization, 3-Mobile device & tele-conferencing utilization and 4-Embedded devices (IOT). Just so I can fully understand how this can be introduced into companies without too much resistance, I prepared this presentation. Here in Japan for smaller companies this implementation is a major problem. Therefore, I hope to present it in Japanese. I hope you find it helpful too.
Similar to Remote Audit: During and Beyond Covid-19 (20)
Impact of Human Centric AI on Our World of Audit - 20.12.2019.pdfVinod Kashyap
Artificial Intelligence (AI) has undergone an unprecedented technological revolution during the last couple of years. It has brought changes in the industry structure and its processes. Augmented AI can help organizations & individuals to achieve things which they couldn’t do otherwise by assisting human judgements. However, use of AI in the business of auditing has ethical implications. The introduction of bias into decision-making is one of the most harmful hazards of AI.
Impact of Technology on Profession: Human Vs. AI + BotVinod Kashyap
Innovations in technologies in auditing and assurance profession and its impact on the auditing profession which included Artificial Intelligence (AI), Robotic Process Automation (RPA), Audit Data Standards (ADS), Intelligent Process Automation (IPA) and Blockchain and Distributed Ledger Technologies (DLT) Systems.
Financial Technologies Innovations: A Roadmap to Social Well BeingVinod Kashyap
What is Financial Technology ?
Some facts about FinTech
Most active areas of FinTech Innovation
How financial technologies (FinTech) can help in providing financial services and financial products to unbanked and underbanked ?
Blockchain is distributed ledger that record the transactions between two parties known as blocks and are connected to each other using cryptography. Once recorded on blockchain, these transactions can't be altered or tampered with.
Pleased to share the copy of my presentation submitted at 41st World Continuous Auditing & Reporting Symposium held on Nov 9 & 10, 2017 in Huelva, Spain
Presentation made in "International Virtual Conference: The New Paradigm for IFRS financial reporting business", organized by the Ibero-American Network of Virtual Studio on Nov 22 & 23, 2012
Sudheer Mechineni, Head of Application Frameworks, Standard Chartered Bank
Discover how Standard Chartered Bank harnessed the power of Neo4j to transform complex data access challenges into a dynamic, scalable graph database solution. This keynote will cover their journey from initial adoption to deploying a fully automated, enterprise-grade causal cluster, highlighting key strategies for modelling organisational changes and ensuring robust disaster recovery. Learn how these innovations have not only enhanced Standard Chartered Bank’s data infrastructure but also positioned them as pioneers in the banking sector’s adoption of graph technology.
Encryption in Microsoft 365 - ExpertsLive Netherlands 2024Albert Hoitingh
In this session I delve into the encryption technology used in Microsoft 365 and Microsoft Purview. Including the concepts of Customer Key and Double Key Encryption.
UiPath Test Automation using UiPath Test Suite series, part 5DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 5. In this session, we will cover CI/CD with devops.
Topics covered:
CI/CD with in UiPath
End-to-end overview of CI/CD pipeline with Azure devops
Speaker:
Lyndsey Byblow, Test Suite Sales Engineer @ UiPath, Inc.
Generative AI Deep Dive: Advancing from Proof of Concept to ProductionAggregage
Join Maher Hanafi, VP of Engineering at Betterworks, in this new session where he'll share a practical framework to transform Gen AI prototypes into impactful products! He'll delve into the complexities of data collection and management, model selection and optimization, and ensuring security, scalability, and responsible use.
A tale of scale & speed: How the US Navy is enabling software delivery from l...sonjaschweigert1
Rapid and secure feature delivery is a goal across every application team and every branch of the DoD. The Navy’s DevSecOps platform, Party Barge, has achieved:
- Reduction in onboarding time from 5 weeks to 1 day
- Improved developer experience and productivity through actionable findings and reduction of false positives
- Maintenance of superior security standards and inherent policy enforcement with Authorization to Operate (ATO)
Development teams can ship efficiently and ensure applications are cyber ready for Navy Authorizing Officials (AOs). In this webinar, Sigma Defense and Anchore will give attendees a look behind the scenes and demo secure pipeline automation and security artifacts that speed up application ATO and time to production.
We will cover:
- How to remove silos in DevSecOps
- How to build efficient development pipeline roles and component templates
- How to deliver security artifacts that matter for ATO’s (SBOMs, vulnerability reports, and policy evidence)
- How to streamline operations with automated policy checks on container images
In his public lecture, Christian Timmerer provides insights into the fascinating history of video streaming, starting from its humble beginnings before YouTube to the groundbreaking technologies that now dominate platforms like Netflix and ORF ON. Timmerer also presents provocative contributions of his own that have significantly influenced the industry. He concludes by looking at future challenges and invites the audience to join in a discussion.
GraphSummit Singapore | The Art of the Possible with Graph - Q2 2024Neo4j
Neha Bajwa, Vice President of Product Marketing, Neo4j
Join us as we explore breakthrough innovations enabled by interconnected data and AI. Discover firsthand how organizations use relationships in data to uncover contextual insights and solve our most pressing challenges – from optimizing supply chains, detecting fraud, and improving customer experiences to accelerating drug discoveries.
Removing Uninteresting Bytes in Software FuzzingAftab Hussain
Imagine a world where software fuzzing, the process of mutating bytes in test seeds to uncover hidden and erroneous program behaviors, becomes faster and more effective. A lot depends on the initial seeds, which can significantly dictate the trajectory of a fuzzing campaign, particularly in terms of how long it takes to uncover interesting behaviour in your code. We introduce DIAR, a technique designed to speedup fuzzing campaigns by pinpointing and eliminating those uninteresting bytes in the seeds. Picture this: instead of wasting valuable resources on meaningless mutations in large, bloated seeds, DIAR removes the unnecessary bytes, streamlining the entire process.
In this work, we equipped AFL, a popular fuzzer, with DIAR and examined two critical Linux libraries -- Libxml's xmllint, a tool for parsing xml documents, and Binutil's readelf, an essential debugging and security analysis command-line tool used to display detailed information about ELF (Executable and Linkable Format). Our preliminary results show that AFL+DIAR does not only discover new paths more quickly but also achieves higher coverage overall. This work thus showcases how starting with lean and optimized seeds can lead to faster, more comprehensive fuzzing campaigns -- and DIAR helps you find such seeds.
- These are slides of the talk given at IEEE International Conference on Software Testing Verification and Validation Workshop, ICSTW 2022.
Essentials of Automations: The Art of Triggers and Actions in FMESafe Software
In this second installment of our Essentials of Automations webinar series, we’ll explore the landscape of triggers and actions, guiding you through the nuances of authoring and adapting workspaces for seamless automations. Gain an understanding of the full spectrum of triggers and actions available in FME, empowering you to enhance your workspaces for efficient automation.
We’ll kick things off by showcasing the most commonly used event-based triggers, introducing you to various automation workflows like manual triggers, schedules, directory watchers, and more. Plus, see how these elements play out in real scenarios.
Whether you’re tweaking your current setup or building from the ground up, this session will arm you with the tools and insights needed to transform your FME usage into a powerhouse of productivity. Join us to discover effective strategies that simplify complex processes, enhancing your productivity and transforming your data management practices with FME. Let’s turn complexity into clarity and make your workspaces work wonders!
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Dr. Sean Tan, Head of Data Science, Changi Airport Group
Discover how Changi Airport Group (CAG) leverages graph technologies and generative AI to revolutionize their search capabilities. This session delves into the unique search needs of CAG’s diverse passengers and customers, showcasing how graph data structures enhance the accuracy and relevance of AI-generated search results, mitigating the risk of “hallucinations” and improving the overall customer journey.
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
1. Remote Audit:
During and Beyond Covid-19
Presented by:
Vinod Kashyap
NextGen Knowledge Solutions Private Ltd.
NIRC of ICAI
Webinar – November 20, 2020
2. Introduction
• Chartered Accountant & Information Systems Auditor
• UN/CEFACT Expert
• Convenor, BIS Sub-Committee on “Audit Data Services”
• Member, BIS Committee on Accounting and Finance Services
• Member, ASSOCHAM – National Council for Internal Audit & Risk
Management
• Member, ASSOCHAM – National Council for Company Law &
Corporate Governance
• Member, Board of Advisors, MITCOM, MIT-ADT University
• First & Only Chartered Accountant from India to speak at :-
(i) World Continuous Auditing & Reporting Symposium
(ii) Transformative Technologies Workshop (AAA Annual Conference)
3.
4. 4
Agenda
o Impact of Covid-19
o Remote Auditing
o Role of Audit Committee
o Potential Risk of Fraud During Pandemic Time
o Q & A
6. Covid-19 is, first and foremost, a global humanitarian
challenge.
Thousands of health professionals are heroically battling the virus, putting their own
lives at risk. Government and industry are working together to understand and
address the challenge, support victims and their families and communities, and search
for treatment and vaccine.
Companies around the world need to act promptly.
Senior leaders need to understand the Covid-19 situation and how it may unfold, and
take steps to protect their employees, customers, supply chains, and financial results.
Source : McKinsey
7. 7
Covid-19’s Widespread Impact on Mental Health
Source : Statista
Share of adults who experience stress, anxiety or sadness that was difficult to
cope with alone during the pandemic.
8. 8
Covid-19 could push half a billion people into poverty
Additional people in poverty due to a 20% income drop caused by a Covid-19 recession.
Source : Statista
*Poverty level : People earning below $5.50 per day
9. 9
How Covid-19 is Changing The World ?
Economy Slow Down We will travel again, but it will be different Learning will learn from Covid-19
The office will be re-invented The future of retail is online and contactlessPeople will move less to chase job
10. 10
Impact of Covid-19 on use of technology
Particulars Pre-Covid-19 During Covid-19 Impact of Technology
Communication
with colleagues
Face-to-face communication
E-mail, if required
Audio calls, e-mails, Skype calls, WhatsApp calls,
Google duo calls, Jio Meet / Zoom meeting etc.
• Use of technology has
grown overnight
• Importance of data
security, personal data /
information protection has
increased
• Technology has eliminated
the need for personal
meeting to a great extent
• Need for internet and
automation has increased
• Savings in operational cost
Trainings /
Workshops
Face-to-face, Classroom
mode, projector screening,
Laptop screening
MS Teams / Zoom / Skype / Google Duo / WebEx /
Slack / Blue Prizm / Jio Meet.
Access to data and
collaboration
Work on data stored on
entity’s server / computer
system.
Access to data through VPN
Access to data stored through VPN / Cloud server
/ online drives. Collaboration through remote
access tools such as Team Viewer / Any Desk /
Windows Remote Desktop.
Documentation Hard copy or soft copy as per
entity’s policy
Soft copy of document is saved on laptop / PC /
Hard drive. Later on, it’s saved on entity’s server /
common drive using VPN or Cloud server or Online
Drive.
Communication
with other
stakeholders
Audio calls, emails, physical
meetings, MS Teams/ Zoom /
Skype / WebEx
Audio calls, emails, physical meetings, MS Teams/
Zoom / Skype / WebEx / Slack / Blue Prizm / Jio
Meet.
During such unprecedented times, it’s through technology, the world economy has survived economically to whatever extent it
could. Non-existence of technology might have led to disruption of the world economies in a metamorphic manner.
11. 11
Is Working From Home Here to Stay ?
Corona virus crisis has dramatically transformed the way companies operate - and although one day
somethings may go back to normal, remote working is here to stay.
Source : CITY A.M.
12. 12
Is Working From Home Here to Stay ?
% of respondents who would like to change their work
schedule after Covid-19 has been contained.
Based on a survey of 1,200 full time employees in the
U.S. conducted April 16-17, 2020.
Source : Statista
14. 14
Remote Audit
Remote Audits are paperless , electronic audits that are conducted without face-to-face interaction between
auditor and auditee. All data is exchanged in electronic format such as MS Word, MS Excel, PDF, XML, Text
Files, EDI files etc.
15. 15
Remote Audit Cont.…
Benefits
• Restoration of much needed sense of normalcy
• Cost savings and efficiency – Travelling, Lodging and
Boarding expenses, cost of storage of physical records
• An expanded pool of available auditors
• Expanded coverage
• Expanded use of specialists
• Improved performance with data analysis
• Working papers & evidence can be linked with audit report
• No auditing standards, rules or regulations that prevent
use of paperless auditing systems
Limitations
• First hand observations can’t be replaced
• Virtual Audit makes it hard to build rapport with auditee
• The lack of in-person interaction opens other
opportunities for fraud
16. 16
Understanding The Challenge
Maintaining Quality Standards Testing New Assurance Methods Overcoming Physical Barriers
Understanding The Client Perspective Ensuring Data Security
17. 17
Re-engineering The Audit Process
Internal Control Testing
• Auditing Standards require
auditors to gain an understanding
of Internal Controls and testing to
determine whether controls are
adequately designed & effective
• If employees are working from
home, organization’s control
environment and risks may have
changed from prior periods
Inventory Observations
• Auditors usually visit the actual
facilities to observe physical
inventory counting procedures
and compare independent test
counts to the organization’s
accounting records.
• Stay-at-home policies during the
pandemic may prevent both
external auditors and personnel
from conducting physical counts.
Management Enquiries
• Auditors are trained to observe
body language and judge the
dynamics between co-workers as
they interview personal to assess
fraud risks.
• When possible it’s best to
perform fraud discussion in
person.
21. 21
Investing in Technology Cont.…
Electronic Working Papers
Electronic workpapers refers to any program that auditors can use to compile and
archive audit documentation. The core functionality is the ability to upload your
work directly into the program, where you can then organize it, record review and
approval with electronic signatures and date stamps, back up your work and lock
down the finished product.
22. 22
Investing in Technology Cont.…
Collaboration Portals
Collaboration portals are used to assist audit teams with communicating and exchanging information with audited entity
management. They provide a more secure method of transferring data than email. Collaboration portals may be integrated into
the audit platform. The status of information requests is visible, improving project management on both sides.
23. 23
Remote Audit Process
Planning
• Stakeholders planning meeting
• Discussion on the scope, schedule and
approach for remote audit
• Information to be shared – how and
when ?
• Technology to be used (Cameras,
Drones , Telepresence etc.)
• Authorization required
• Restricted areas
Document Review
• Prepare and upload documents on a file
sharing platform (Share Point, Google
Drive , Shared Device)
• Auditee will need time to convert paper
records and database storage system into
reviewable format (PDF) or input format
required for data analytics
• Take notes and write down questions to
be asked
Site reconnaissance
• Most challenging aspect of remote auditing
• Use live two way communication technology,
including live streaming
• Recorded video and still photographs where
Wi-Fi is not available
• During document review, auditor should
compile a list of areas of concern: e.g. active
facility access points, secure & restricted
areas, videos of vehicles and personal
screening etc.
24. 24
Remote Interviews
• Scheduling video calls with key persons
using available technology e.g. Skype,
Zoom, Google Hang Outs
• Prepare list of questions to be asked
and points where additional
information is needed
Closing Meeting
• Same as closing meeting in face-to-face
audit
• Should be conducted one two days
following remote interviews
• Compile preliminary draft audit findings
for discussion in meeting
• Resolve any questions or concerns
Audit Report
• Finalize audit report after considering
feed back/answer received on
preliminary audit findings in closing
meeting
Remote Audit Process Cont.…
25. 25
Audit Evidence (SA-500)
Audit evidence – Information used by the auditor
in arriving at the conclusions on which the
auditor’s opinion is based. Audit evidence includes
both information contained in the accounting
records underlying the financial statements and
information obtained from other sources.
Audit Evidence
• Information used by the auditor in arriving at the
conclusions on which the auditor’s opinion is
based. Audit evidence includes both information
contained in the accounting records underlying the
financial statements and information obtained
from other sources.
• Sufficient and appropriate audit evidence.
26. 26
Audit Procedures for Obtaining Audit Evidence
Procedure Method
Inspection of records or documents Pull sample of records and trace, verify/match
Inspection of tangible assets Physical inventory, walk through, open boxes
Observation Sit with workers and observe
Inquiry Written or oral interviews
Confirmation Verify account balance
Recalculation Exact and recalculate figures to verify
Re-performance Re-perform procedures to verify
Analytical procedures Scanning and statistics
Source : Appelbaum and Nehmer
Note: Audit Procedures (SA – 500) prescribes similar audit procedures for obtaining audit evidence.
27. 27
Audit Evidence (SA-500)
Audit evidence – Information used by the auditor in arriving at the
conclusions on which the auditor’s opinion is based. Audit evidence
includes both information contained in the accounting records
underlying the financial statements and information obtained from
other sources
Audit Evidence
• An emergent need has been felt for quite sometime for auditing
standards to recognize the use of “automated tools and techniques”
(Audit Data Analytics (ADA), Artificial Intelligence (AI), Machine
Learning (ML), Robotic Process Automation RPA), and Remote
Observation Tools) which are being used for planning or performing
the audit.
• AICPA has issued a new standard on Audit Evidence (AU-C 500) which
recognize the use of “automated tools and techniques” in audit.
• IAASB has issued Project Update on Revision of ISA 500 in September
2020.
• SA 500 “Audit Evidence”, which was issued over a decade ago, doesn’t
recognize emerging technologies and tools used by auditors in
collection of audit evidence.
28. 28
Inventory Verification
Companies (Auditor’s Report) Order, 2016 (CARO)
Para 3 (ii) whether physical verification of inventory has been conducted at reasonable intervals by the
management and whether any material discrepancies were noticed and if so, whether they have been properly
dealt with in the books of account;
29. 29
Source : McKinsey
“If you can not count the inventory for whatever reasons physically, I would be
worried about that. History tells us that when the auditor is not able to observe and
count inventory bad things happen.”
Lynn E. Turner, Ex-Chief Accountant, Securities Exchange Commission
30. 30
Lapses in basic on-site checks have led to major fraud cases
ZZZZ Best Co.
• A carpet cleaning and restoration company
• The company went public in Dec 1986 and was valued at over
$300 Mn.
• CPA firm Ernst & Wittney , now Ernst & Young, audited the
financial statements that were part of Prospectus for IPO
• Created a fake contract site as part of an elaborate effort to
dupe it’s auditors
• Within 7 months of IPO, the company was bankrupt and it’s
assets were auctioned for $64,000 (approx.)
Crazy Eddie
• A consumer electronic chain in tri-state New York
• Went public in 1984 and a long lasting financial statement fraud
was not discovered until 1987
• Overstated inventory to inflate reported profits
• Engineered a $120 Mn rip off
• New management of company in 1987, reviewed inventory and
disclosed shortfall in inventory on hand to the tune of $65 Mn
(approx.)
• Auditors didn’t detect fraud
31. 31
MiniScribe Corp.
• Innovator of high-capacity hard drives in the 80s
• Masqueraded bricks as disk drives to confuse auditors
• Sending boxes of bricks to warehouse to simulate production
• False financial reporting, interference with auditors
• Created an automated computer program, “Cook Book” to
falsify inventory levels and sale
Ann Taylor
• A clothing retailer
• Didn’t write down excess inventory
Lapses in basic on-site checks have led to major fraud cases Cont.…
32. 32
Roll Forward and Roll Back
• Inventory verification after travel
restrictions are over
• Additional testing on sales & purchase
subsequent to the close of FY
Video Observation
• Is it permissible under auditing standards
not to do physical verification of inventory?
• Live streaming of inventory verification
being carried out by auditee staff with
location tracking information
• Recorded video will have authenticity issues
for being used as audit evidence
• Challenges involved in evaluating physical
condition of inventory
Additional Supporting Evidence
• Using image recognition software
• Inventory price-testing to address valuation
assertion and also provide some evidence on
quantity in stocks
Inventory Verification During Covid-19
Source : Deniz Appelbaum & Miklos A Vasarhelyi
33. 33
Inventory Verification During Covid-19 Cont.…
RFID Tags Tagging Auditing
Image Recognition Software
• The App count things of the object in picture with touch
of a button
• Provide customized CSV files relevant for the business
Real-time Inventory Verification Using RFID Tags
• Using RFID Tags, inventory audit can be conducted on real-
time basis via a handheld device, which connects to a
server.
• Limitation : RFID Tags may not tag everything
34. 34
Evaluation of Property, Plant & Equipment
Drones
• Fit into audit procedures used to collect & gather evidence
• Provide evidence of existence and valuation assertion in
certain circumstances
• Assist in difficult-to-reach places like roof tops, agriculture
farms etc
Live Video Streams
• Live streaming provide auditor with a real-time view of the
site, activity or document
• Evaluation of physical condition of Property, Plant &
Equipment
• Verifying the content of box could be done through AFV
process
Source : Deniz Appelbaum & Robert A Nehmer
35. 35
Audit Risk Assessment During Covid-19
Fair Value
• Securities market and pricing
significantly affected by lock down
• Guidelines issued by Accounting bodies
regarding valuations
• Critical review of disclosures on
valuations
• Due consideration of market volatility
and lack of liquidity
Going concern
• Impact of Broad shut down of economy
• Review of debt level , alternative source
of revenues, strategic plan , cash flows
before and after pandemic
Subsequent events
• Events that provide evidence of
conditions that existed at the date of
Balance Sheet
• Events that provide information about
events that did not exist at the date of
the balance sheet but arose after that
date
• Impact on financial statements
Source : Deniz Appelbaum & Miklos A Vasarhelyi
38. 38
Source : Richard Chambers
Audit committees must be vigilant, agile, disciplined,
and engaged. That will allow them a timely and
coherent understanding of the continuously evolving
operating environment and exhibit confidence in
their reporting, disclosures, and conformance with
regulatory, legislative, and ethical expectations.
Role of Audit Committee
39. 39
Recommendations For Audit Committee
Stay informed
Maintain a timely and clear
understanding of the continuously-
evolving operating environment and
how it may impact organizational
objectives and performance.
Communicate and collaborate
Adopt a multi-disciplinary approach to
existing oversight of internal and
external audit and reporting through
dynamic communication and
collaboration.
Leverage available expertise
Seek qualified and reliable assurance
and advice on management
evaluations of, and response to, the
organization’s continuously evolving
risk and risk profile.
Source : IIA
40. 40
Recommendations For Audit Committee Cont.…
Promote continuous improvement
Encourage innovation and change to
address vulnerabilities and to build
resilience, strengthening the pursuit of
value creation.
Think holistically
Adopt a broad perspective of the
organization and it’s environment
across both financial and non-financial
goals, considering interconnectivity
with other organizations, internal and
external interdependencies, and the
central importance of people.
Embrace technology
Optimize the performance of the audit
committee through the use of
technology and flexible work practices.
Source : IIA
41. 41
Audit Committee Perspective: Understanding Related Risks
Audit evidence – Information used by the auditor
in arriving at the conclusions on which the
auditor’s opinion is based. Audit evidence
includes both information contained in the
accounting records underlying the financial
statements and information obtained from other
sources.
Questions to discuss with auditors
➢ Will additional time be needed to get the audit
work done remotely? What complexity does
working remotely add to the audit?
➢ Will working remotely affect productivity of audit
engagement team members? If so, does the audit
plan need to be updated, and do fees need to be
revisited?
➢ Has remote work affected the company’s ICFR? If
so:
✓ Is the auditor including new controls in their
assessment, or evaluating changes to existing
ones?
✓ Has the auditor identified any concerns with
respect to segregation of duties?
Source : PCAOB
42. 42
Audit Committee Perspective: Understanding Related Risks Cont.…
Audit evidence – Information used by the auditor
in arriving at the conclusions on which the
auditor’s opinion is based. Audit evidence
includes both information contained in the
accounting records underlying the financial
statements and information obtained from other
sources.
Questions to discuss with auditors
➢ If a review of the issuer’s interim financial
information has been completed already, are there
any lessons learned that can be applied to the
year-end audit?
➢ Are there any technology enhancements or
collaborative tools that should be considered to
support longer-term remote work?
➢ Engage with the auditor and management to
discuss potential challenges to a timely completion
of the audit. Review and discuss the timeline for
the phases of audit work.
Source : PCAOB
43. 43
Audit Committee Perspective: Understanding Related Risks Cont.…
Audit evidence – Information used by the auditor
in arriving at the conclusions on which the
auditor’s opinion is based. Audit evidence
includes both information contained in the
accounting records underlying the financial
statements and information obtained from other
sources.
Questions to discuss with auditors
➢ Determine a good cadence for communications
that include both the auditor and management so
that the audit committee receives the information
it needs in a timely manner, while also considering
the additional demands on auditors and
management during the pandemic.
➢ Discuss any changes to the audit plan with the
auditor, including changes to areas of focus and
how the auditor plans to address areas of new or
modified risk. Discuss if there are changes to how
the auditor will identify and test internal controls.
➢ Discuss which disclosures may need to change as a
result of Covid-19.
Source : PCAOB
45. 45
Auditors Duty for Detection of Fraud
Ever since the early 90’s, there is an accepted practice that auditors are not there to find fraud…so who is ?
47. 47
Auditors Duty for Detection of Fraud Under CARO 2020
Standard on Auditing (SA 240)
….does not lay down this as the auditor’s responsibility. It only says
that if you stumble upon some information where you can see
symptoms of fraud, then you need to go deeper into the matter.
50. 50
Top 5 Fraud Schemes Due To The Corona Virus
Audit evidence – Information used by the
auditor in arriving at the conclusions on
which the auditor’s opinion is based. Audit
evidence includes both information
contained in the accounting records
underlying the financial statements and
information obtained from other sources.
“This pandemic has created an
unprecedented situation for countries,
organizations and individuals around the
world”, said Doris. As anti-fraud
professionals, our members have seen fraud
spike after natural disasters and in recession
before, but the amount of fraud we can
expect to see in the coming months and
years as a result of Covid-19 is truly
staggering.
Source : ACFE
51. 51
Internal Controls to Reduce Fraud Losses
Robust Code of Conduct Strong Internal Audit Department
Management Certification of Financial Statements Management Reviews of Internal Controls,
Processes, Accounts and Transactions
Source : ACFE
52. 52
What you can do now ?
Review for
control
weakness
Update your
current
operations
Review code of
conduct
IT Hardening
Proactive
monitoring of
financial trends
Assess and
promote culture
Fraud risk
assessment
Reallocate
resources
Fraud hotline Surprise audits
53. “No matter how complex things are,
basically everything is simple.”
Questions